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Q1) Management of Gilmartin Corporation, a manufacturing company, has given the following data for February:

Sales

$550,000

variable production expense

$104,000

Fixed production expense

$122,000

Variable selling expense

$24,000

Fixed selling expense

$102,000

Variable administrative expense

$56,000

Fixed administrative expense

$116,000

 Contribution margin for February was:

i) $366,000

ii) $210,000

iii) $26,000

iv) $324,000

Accounting Basics, Accounting

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  • Reference No.:- M916277

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